Let’s explore the top smart contract auditing firms that can help you secure your crypto project and safeguard your customer’s assets.
Smart contracts are self-executing digital agreements in codes stored on a blockchain. Moreover, once these contracts are deployed, they cannot be changed.
The vulnerabilities in smart contracts are a major reason behind various crypto-based hacks, frauds, and theft. For example, hackers stole crypto assets worth $480 million in the first half of 2023.
Therefore, it is important to audit smart contracts before launching your crypto project. Let’s start with the basics, stay tuned!
What is a Smart Contract Audit?
The smart contract audit involves a detailed analysis of codes present in the smart contract. As a result, this process helps to detect potential risks and flaws before deploying the code on a blockchain network.
In addition, the open-source nature of blockchain projects leaves room for various vulnerabilities. Once such unaudited contracts are deployed, hackers find it easy to breach the security system and get away with your customer’s crypto assets.
Besides, a project that completes the audit process tends to gain acceptance in the crypto space. Moreover, audited projects are more likely to attract investor’s attention.
Blockchain security is a prominent factor that plays a crucial role in the success of a crypto project. For this reason, it’s important to conduct smart contract auditing through renowned firms.
Now, let’s explore the list of the top smart contract auditing firms.
Hashlock is an Australian firm focusing on smart contract audits and blockchain cybersecurity. In addition, they are members of FinTech Australia and Blockchain Australia.
This firm conducts a rigorous audit to detect and report smart contract security issues. As a result, their auditing process involves:
In-depth manual code review
Offensive testing using software toolkits of industry standard
Development revision suggestions for the first review
Final analysis and its detailed report
Hashlock was partnered with various crypto projects to conduct smart contract audits on Ethereum, BNB Smart Chain (BSC), Polygon, and Solana. For example, some of these projects include Mad Cartels, Aria Land, BTAF Protocol, Jubi DAO, Verida Token(VDA), etc.
The most impressive feature of Hashlock is its simple and well-defined audit reports. For instance, their reports cover all major aspects, such as security rating, code quality, dependencies, vulnerabilities, feasible suggestions, and more.
Founded in 2017, Hacken offers smart contract auditing services to over 1,000 clients globally. Moreover, they have audited 1,200+ crypto projects to date.
In addition, their major clients include Huobi, Binance, DAO Maker, and 1inch to name a few. Besides, they conduct audits for a wide range of blockchains like Ethereum, BNB Smart Chain (BSC), Polygon, Solana, Aptos, and more.
Their core team involved with the smart contract audit comprises more than 60 top-class engineers. As a result, there were no reported exploits in the financial year 2022.
To get their service, first, you need to send a quote form describing your project, documentation details, smart contract source code, and more. Hacken takes 5 to 15 business days to complete their smart contract audit.
QuillAudits has a proven track record of securing 850+ crypto projects. Moreover, their auditing service has helped to secure assets worth over $30 billion.
Besides, this firm also has 5+ years of auditing experience in the Web3 space. As a result, they have audited over 800K lines of smart contract codes.
Furthermore, QuillAudits provides auditing for a large number of blockchains. For instance, the major examples include BNB Smart Chain (BSC), Solana, Ethereum, Polkadot, Polygon, Algorand, and more.
The quality of their auditing service has attracted more clients from various ecosystems like DeFi and crypto gaming, to name a few. In addition, their client base includes Gameloft, Nord Finance, Dfyn, Polygon DAO, etc.
ConsenSys Diligence offers smart contract audits specifically for Ethereum-based projects. Besides, they have audited over 100 blockchain companies and discovered 200+ major issues in smart contract codes.
Founded by Ethereum’s co-founder Joseph Lubin, ConsenSys is one of the most trusted names in the crypto space. Notably, this firm is behind the development of one of the best crypto wallets, MetaMask.
In addition, ConsenSys Diligence consists of an experienced team of auditors, researchers, and developers. As a result, they have audited prominent crypto projects like Aave, 1inch, 0x, Lybra Finance, Uniswap, and more.
After completing the audit, this firm provides a report with an executive summary, scope, findings, and system overview. In addition, this report also includes the severity of every issue and its potential improvements.
Founded by professors at Yale and Columbia, CertiK is undoubtedly one of the most preferred audit firms. In addition, they incorporate AI technology, industry-leading audit tools, and methods for the best auditing results.
At the time of writing, CertiK has audited over 4,400 blockchain-based projects. In addition, they have reported over 68,000+ audit findings to their clients.
Notably, this company, founded in 2018, has gained the acceptance of top investment firms. For example, their major investors include Sequoia Capital, Tiger Global, Goldman Sachs, Binance, etc.
Furthermore, CertiK is one of the recommended smart contract auditors by prominent exchanges like Huobi, Binance, and OKEx. Besides, they offer audit services for popular blockchains like Ethereum, BSC, Polygon, Solana, etc.
Growth hacker Rob Behnke and ethical hacker Steven Walbroehl founded Halborn in 2019. Smart contract audits are a major service they offer their clients.
Their audit report provides a thorough analysis of smart contracts. Therefore, it helps to correct code errors, design issues, and identify security vulnerabilities. Besides, they have expertise in auditing programming languages such as Solidity, Python, and Rust.
The major clients of Halborn include ApeCoin, Avalanche, Bancor, and BlockFi, to name a few. Moreover, this auditing firm specializes in blockchains like Ethereum, Terra, Solana, NEAR, etc.
In addition, the size of Halborn has grown in the last few years, and it has a team of 100+ best security engineers. Finally, this firm takes 2 to 4 weeks to complete a smart contract audit.
Antier Solutions is a company that offers various metaverse and blockchain-based services. Notably, they have earned a reputation as a smart contract audit for their quality and efficiency.
Most importantly, they offer their auditing for a wide range of Industries. For example, they have clients across real estate, insurance, healthcare, media & entertainment, banking & finance, transport and logistics.
In addition, their audit covers all areas of the crypto ecosystem. The major services cover decentralized finance (DeFi), decentralized application (DApp), non-fungible token (NFT), initial coin offering (ICO), and blockchain protocol audits.
Besides, this firm audits prominent blockchains like Ethereum, BSC, Cosmos, TRON, Cardano, Solana, etc. For this reason, they have partnered with crypto platforms such as Alchemy Pay, fastnode.io, GetBlock, Nownodes, Nexo, etc.
Antier Solutions also has a large client base from the crypto space. Their clients include CoinTrade, 5ireChain, Tarality, Weownomy Platform, and more.
Founded in 2017, Chainsulting is a Web3 consulting, security, and software development company. This company has over 6 years of industry experience and has offered its service to 420+ clients.
This German-based company provides smart contract audits for the top blockchains. The supported blockchains are Ethereum, Solana, Hyperledger, EOS, Tezoz, Polygon, and BSC.
In addition, the audit report of Chainsulting is accepted and available on one of the top crypto platforms, CoinMarketCap. As a result, their report has a good reputation among the crypto community members.
Furthermore, this company follows German security standards and technology to provide quality audit reports. For this reason, their notable clients are 1inch, ApeCoin, Agave, Apollo Currency, etc.
At the time of writing, Chainsulting is in the process of rebranding to softstack.io.
Established in 2018, SlowMist is a renowned security firm that offers blockchain security. In addition, they are the first Chinese smart contract security audit firm to be listed on Etherscan’s recommendation list.
Notably, their smart contract audit reports were appreciated and recognized by multiple crypto exchanges like OKX. Besides, their team has 10+ years of experience in network security.
This firm’s experience and expertise in smart contract audit have helped them gain many partners. For instance, they have partnered with notable names such as Binance, Huobi, Crypto.com, imToken, OKX, PancakeSwap, etc.
SlowMist has completed smart contract audits for over 1,500 clients. In addition, their service covers top blockchains like Ethereum, Aptos, EOS, Klaytn, and Solana.
Quantstamp is a well-recognized firm with expertise in blockchain security with over 500 smart contract audits. In addition, they have helped their clients secure assets worth over $200 billion.
This firm has audited blockchains, including Solana, Avalanche, Ethereum, Flow, BSC, Cardano, and more. In addition, their smart contract auditing played a crucial role in securing DApps like Curve, OpenSea, and Maker.
Furthermore, Quantstamp also conducted audits for big names in the NFT space, like Decentraland, The Sandbox, Axie Infinity, SuperRare, Nifty Island, Zora, NBA Top Shot, and more.
Besides, their clients from the DeFi space include Compound, Arbitrum, Chainlink, SushiSwap, Lido, xDAI, BadgerDAO, etc.
OpenZeppelin consists of a team of security experts that conducts smart contract audits. This firm, founded in 2015, has successfully audited more than 370 crypto projects.
The smart contracts audited by OpenZeppelin hold assets worth over $15 billion. In addition, this firm works with over 30 top blockchain networks from the crypto space.
Moreover, they point out whether the issues in smart contracts are critical, high, medium, or low. Besides, they add notes that include expert suggestions and recommendations.
OpenZeppelin is trusted by the popular names from the crypto ecosystem. For example, their client base includes Coinbase, Ethereum Foundation, Matter Labs, Aave, Optimism, and more.
ChainSecurity is a smart contract auditing firm that has operated in the blockchain sector since 2017. Moreover, they provide auditing services to Web3 projects and DeFi protocols, to name a few.
This firm believes in professional methodology to provide deep investigations and quality assurance for their clients. For this reason, they have added a vast client base, including MakerDAO, Compound, Curve Finance, Rarible, Uniswap, etc.
ChainSecurity consists of a team of experts in blockchain security. For example, most team members are graduates and PhD holders of Europe’s top university, ETH Zurich.
Founded in 2018, PeckShield is a blockchain security firm with senior researchers and security professionals. For example, the team consists of experts with experience at Microsoft, Qihoo 360, Intel, Alibaba, and more.
This firm has conducted audits for a wide range of areas of the blockchain space. Moreover, they have been associated with numerous crypto exchanges, wallets, DApp, mining pools, and DeFi.
PeckShield’s prominent achievements include the detection of the BatchOverflow loophole on the Ethereum smart contract. Notably, this firm has huge clients, including BNB Chain, Avalanche, dYdX, Polygon, ParaSwap, etc.
What are the steps involved in a smart contract audit?
The major steps involved include:
1) Document Collection: The first step is to collect important project documents like codebase, whitepaper, technical documentation, etc. 2) Document Review: Here, the team members review the submitted documents to find the scope and technical specifications of the project. 3) Smart Contract Review: The blockchain security expert reviews every line of smart contract code to detect security issues. 4) Audit Testing: The smart contracts are tested manually and automatically using industry-standard audit tools. 5) Initial Report and Suggestions: After testing, the team creates an initial report based on the test result. Moreover, they provide suggestions to rectify the issues. 6) Reassessment: The audit firm interacts with the project’s development team to fix all the security vulnerabilities detected in its initial report. 7) Final Audit Report: After fixing the existing issues, a detailed final audit report is provided to the clients.
What kind of security vulnerabilities are checked for in a smart contract audit?
The main security vulnerabilities checked during a smart contract audit consist of:
1) Reentrancy Attack: This attack occurs when the smart contract glitches send external calls to an untrusted contract, leading to the drain of funds. 2) Front-running: Poorly created codes help scammers to know information before blockchain transactions and benefit from it. 3) Logic Errors: These errors are the most common form of vulnerability, including spelling and basic coding mistakes. 4) Integer Overflow and Underflow: Here, the smart contract performs incorrect execution of arithmetic operations, resulting in wrong calculations. 5) Timestamp Dependence: Contracts that highly rely on timestamps can favor miners to manipulate to a certain extent.
Can a smart contract audit be done on your own in-house?
Yes, it’s possible if the in-house has a well-experienced blockchain security team and the required tools. However, it is difficult to match the audit quality of the best auditing firms that have worked with big crypto projects.
In conclusion, auditing your project’s smart contract is compulsory to avoid future hacks and attacks. Moreover, ensure that quality auditing is conducted by industry experts.
All the smart contract auditing firms listed in this article provide industry-standard audit services. Finally, it’s up to you to evaluate and choose the service that suits the best for your crypto project.
Abhijith is a crypto and blockchain writer with a bachelor’s in electronics engineering. He loves to write crypto articles to educate and create awareness among his readers in an engaging way. Besides writing, he is interested in technical… read more
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